| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 94th | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 507 California Ave, Santa Monica, CA, 90403, US |
| Region / Metro | Santa Monica |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | 2008-08-07 |
| Transaction Price | $1,560,000 |
| Buyer | BEACH NICOLETTE |
| Seller | FULKERSON DONALD P |
507 California Ave Santa Monica Multifamily Opportunity
High-cost ownership and a deep renter base in the surrounding neighborhood underpin durable leasing, according to WDSuite’s CRE market data, with top-tier amenities and schools supporting demand.
Located in Santa Monica’s Urban Core, the neighborhood ranks among the very top of the Los Angeles metro (5 out of 1,441 neighborhoods), reflecting a strong blend of livability and income profiles. Amenity access is a standout: pharmacies, parks, restaurants, cafes, and groceries score in the top percentiles nationally, helping properties compete for quality tenants and supporting retention.
School quality is a notable draw for family renters, with the neighborhood’s average school rating sitting at the top of the metro and in the highest national tier. For investors, this combination of education quality and daily convenience typically helps reduce turnover and sustain pricing power relative to less amenitized submarkets.
Ownership costs are elevated (home values among the highest nationwide), which tends to reinforce reliance on multifamily housing and deepen the renter pool. Neighborhood tenure data shows a high share of renter-occupied units, signaling demand depth for professionally managed apartments and supporting leasing velocity.
Within a 3-mile radius, demographic statistics show stable population trends with rising family counts historically and forecasts calling for an increase in households alongside smaller average household sizes. That shift generally expands the renter pool and can support occupancy stability and absorption, especially for well-located mid-size assets.
On operations, neighborhood occupancy has recently trailed metro medians, which warrants disciplined leasing and renewal management. Even so, the combination of affluent incomes, high amenity density, and nationally strong neighborhood ratings indicates resilient long-term fundamentals in this Santa Monica pocket.
Safety indicators for the neighborhood trend below both metro and national norms. The area’s crime rank places it near the lower end of Los Angeles neighborhoods (measured against 1,441 neighborhoods), and national comparisons point to a lower percentile for safety. Recent year-over-year shifts have included increases in both property and violent offenses, suggesting investors should incorporate prudent security measures and monitor trends as part of asset management.
Framing this comparatively, the submarket’s broader urban context and high activity levels can elevate incident rates versus suburban locales. For underwriting, plan for appropriate insurance, lighting, and access controls, and benchmark operating practices against competitive assets that perform well under similar conditions.
The nearby employment base blends tech, entertainment, and corporate headquarters, supporting commuter convenience and a steady renter pipeline for workforce and professional households.
- Abbott Laboratories — healthcare products (1.6 miles) — HQ
- Activision Blizzard — interactive entertainment (2.7 miles) — HQ
- Occidental Petroleum — energy corporate offices (4.1 miles) — HQ
- Microsoft Offices The Reserves — technology offices (5.3 miles)
- AECOM — engineering & infrastructure (5.4 miles) — HQ
This 20-unit, mid-size asset benefits from one of the Los Angeles metro’s highest-rated neighborhoods, where elevated home values and a high share of renter-occupied units support a deep tenant base. Amenity and school advantages rank in the top tiers nationally, which typically aids retention and sustains rent performance versus less differentiated locations. According to CRE market data from WDSuite, neighborhood occupancy has softened relative to metro medians, so disciplined leasing and renewals remain important near term.
Within a 3-mile radius, forecasts indicate an increase in households and smaller average household sizes, expanding the renter pool and supporting long-run demand for well-managed apartments. The concentration of nearby headquarters and tech/entertainment employers further anchors demand drivers that can support occupancy and rent growth through cycles.
- Prime Santa Monica Urban Core location with top-tier amenities and schools supporting retention
- High-cost ownership market reinforces reliance on multifamily and deepens the renter base
- 3-mile demographics point to household growth and smaller sizes, expanding the tenant pool
- Proximity to tech, entertainment, and corporate HQs underpins steady leasing demand
- Risk: Neighborhood safety metrics and softer occupancy warrant active security and leasing management